IncomeTax Computatation
description
Transcript of IncomeTax Computatation
Sheet1YEAR OF ASSESSMENT 2007WORKING SHEETFor the year ended 31 Dec 2006(For your retention)TAXPAYERINCOMES$TradeEmploymentDividendsOther IncomeTOTAL INCOME0Less:DONATIONSASSESSABLE INCOME0Less:PERSONAL RELIEFSEarned IncomeWife/Handicapped SpouseChildrenParents/Handicapped ParentsGrandparent CaregiverHandicapped Brothers/SistersProvident Fund/Life InsuranceCourse FeesForeign Maid LevyNSmenCPF Cash Top-UpSupplementary Retirement SchemeCHARGEABLE INCOME0Tax Payable on Chargeable Income0.0000.000000000Less:Tax creditOther reliefsTax Payable/Repayable before rebate0.00Less:Parenthood Tax RebateTax Deducted from Dividends/InterestsNET TAX PAYABLE / REPAYABLE0.00RATES OF TAX FOR YEAR OF ASSESSMENT 2007Your chargeable income is the amount remaining after deducting from your assessable income the personal reliefs to which you are entitled. If you are a resident in Singapore, the rates of tax chargeable are as follows:Chargeable IncomeRateGross Tax PayableChargeable IncomeRateGross Tax Payable$(%)$$(%)$On the first20,00000On the first80,0004,300On the next10,0003.5350On the next80,0001411,200On the first30,000350On the first160,00015,500On the next10,0005.5550On the next160,0001727,200On the first40,000900On the first320,00042,700On the next40,0008.53,400Above320,00020
Sheet2
Sheet3